The Optimum Credit Policy is a policy that is applied if you have a near perfect credit rating. Most people strive for an Optimum Credit Policy.
advantages of credit policy
monetary policy
Many credit card companies are hesitant to issue unsecured credit cards to those with a credit score of 650 or less. Some companies are more stringent than others.
People with bad credit have a hard time getting a loan. Lenders want to ensure they will be paid back.
The Optimum Credit Policy is a policy that is applied if you have a near perfect credit rating. Most people strive for an Optimum Credit Policy.
advantages of credit policy
If you have bad credit, you may apply for automotive credit. The requirements are less stringent, but the interest is far higher than conventional loans.
Credit Policy refers to the written guidelines and protocols that related to credit. This will include the specific terms and conditions for any credit transactions.
The important dimensions of a firm's Credit policy are: 1. Credit standards 2. Credit period 3. Cash discount
In credit policy of a developing country like India, the beneficiaries/receipients from whom the credit is meant,only few big farmers/industrialists avail the same due to stringent rules and regulations attached with it. The banks through whom the credits are supposed to be extended, are generally reluctant to help the poor beneficiaries to avail the benefits. Even they get a fraction of the government aids/grants due to red tapism,corruption embeeded with the existing system.
monetary policy
Many credit card companies are hesitant to issue unsecured credit cards to those with a credit score of 650 or less. Some companies are more stringent than others.
People with bad credit have a hard time getting a loan. Lenders want to ensure they will be paid back.
A liberal credit policy may attract people who don't have enough money to make their payments. With a liberal credit policy, a business will have to have a strict collection department.
Yes
The credit policy generally demands payment. Working class professionals will generate more money in order to sort out credit requirements.